Search

NorthWest Healthcare Properties REIT Announces Exercise of Over-Allotment Option in Connection with the Recent Equity Offering for Aggregate Gross Proceeds of Approximately $80 Million

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, April 25, 2016 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT") announced today the issuance of an additional 982,500 trust units ("Units") of the REIT at a price of $9.20 per Unit ("the "Offering Price") for incremental gross proceeds of approximately $9.0 million. The issuance was pursuant to the exercise in full of an over-allotment option granted by the REIT to a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets in connection with the REIT's recent public offering of 6,550,000 Units (the "Offering") which closed on April 20, 2016. The exercise of the over-allotment option increases the total gross proceeds of the Offering to approximately $69.3 million ($79.3 million including the concurrent private placement of approximately $10 million of Units to NorthWest Value Partners Inc. ("NWVP"), the REIT's largest unitholder). Following the Offering and concurrent private placement, NWVP holds an approximate 32% interest in the REIT. NWVP is wholly-owned by Paul Dalla Lana, CEO of the REIT.

About NorthWest Healthcare Properties Real Estate Investment Trust

NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 122 income-producing properties and 7.8 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 180 professionals across 9 offices in 5 countries to serve as a long term real estate partner to leading healthcare operators.

Forward Looking Information

Certain statements contained in this news release may contain projections and "forward looking statements" within the meaning of that phrase under Canadian securities laws. When used in this new release, the words "may", "would", "should", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward looking statements. Those statements reflect the REIT's current views with respect to future events or conditions. By their nature, forward looking statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the REIT's annual information form dated March 10, 2016 and (final) short form prospectus dated April 13, 2016 and the REIT's other public filings, copies of which each may be obtained on the SEDAR website at www.sedar.com. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to nor assume any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.